NXT Capital announced that it has provided a $100 million senior secured credit facility to support the refinancing of Material Handling Services, a portfolio company of CI Capital Partners. NXT Capital acted as the joint lead arranger, joint bookrunner and administrative agent for the transaction.
Material Handling Services is the largest provider of brand-independent fleet management and asset management services to Fortune 2000 manufacturing, distribution, healthcare and hospitality companies. As one of the largest subject matter experts in mission critical capital assets such as material handling equipment, doors and docks, Material Handling Services is a key supply chain partner to its customers. Through a nationwide, broadly linked network of affiliates and owned service centers, Material Handling Services delivers a comprehensive spectrum of maintenance, repair, sales and installation, equipment modernization, diagnostics and analytical services to more than 16,000 customer locations throughout North America.
“NXT Capital is a valued financing partner and we are pleased to work with them once again,” said Tim Hall, Managing Director, CI Capital Partners. “NXT developed an understanding of Material Handling Services’ business and provided a flexible financing solution to support the company’s growth.”
CI Capital Partners LLC, a leading North American private equity firm, has been investing in middle-market companies since 1993. CI Capital forms partnerships with experienced management teams and entrepreneurs to build substantial businesses through add-on acquisitions, organic growth and operational improvements.
NXT Capital provides structured financing solutions to middle-market companies and real estate investors through its Corporate Finance, Equipment Finance and Real Estate Finance groups. Based in Chicago with offices in Atlanta, Charlotte, Dallas, Kansas City, Los Angeles, Minneapolis/St. Paul, New York, Phoenix, San Francisco and Stamford, NXT Capital targets senior financing opportunities of up to $150 million with a hold size up to $50 million.